The annual inflation rate in Canada rose to 0.7 percent in October 2020 from 0.5 percent in the previous month and above market expectations of 0.4 percent. Still, inflation remains well below 2.2 percent in February, before the coronavirus pandemic. Prices advanced further for food (2.3% vs 1.6% in September), namely fresh vegetables (+9.5 percent); shelter (1.8% vs 1.7%); health & personal care (1.8% vs 1.6%); and household operations, furnishings and equipment (0.4% vs 0.3%). Also, inflation was steady for alcoholic beverages, tobacco products & recreational cannabis (at 0.7%) while cost of clothing & footwear fell less (-4% vs -4.1%). In contrast, cost of transport dropped (-0.1% vs 0.1%); and prices of recreation, education & reading declined at a faster pace (-1.3% vs -1.2%). On a monthly basis, consumer prices went up 0.4 percent, rebounding from a 0.1 percent fall in the prior month and above forecasts of a 0.2 percent gain. source: Statistics Canada

Inflation Rate in Canada averaged 3.11 percent from 1915 until 2020, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Inflation Rate in Canada is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.10 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Canada Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.50 21.60 -17.80 1915 - 2020 percent Monthly
2002=100


Calendar GMT Actual Previous Consensus TEForecast
2020-08-19 12:30 PM Jul 0.1% 0.7% 0.5% 0.5%
2020-09-16 12:30 PM Aug 0.1% 0.1% 0.4% 0.3%
2020-10-21 12:30 PM Sep 0.5% 0.1% 0.4% 0.3%
2020-11-18 01:30 PM Oct 0.7% 0.5% 0.4% 0.3%
2020-12-16 01:30 PM Nov 0.7%
2021-01-22 01:30 PM Dec
2021-02-19 01:30 PM Jan
2021-03-18 12:30 PM Feb


News Stream
Canada October Inflation Rate Unexpectedly Rises to 0.7%
The annual inflation rate in Canada rose to 0.7 percent in October 2020 from 0.5 percent in the previous month and above market expectations of 0.4 percent. Still, inflation remains well below 2.2 percent in February, before the coronavirus pandemic. Prices advanced further for food (2.3% vs 1.6% in September), namely fresh vegetables (+9.5 percent); shelter (1.8% vs 1.7%); health & personal care (1.8% vs 1.6%); and household operations, furnishings and equipment (0.4% vs 0.3%). Also, inflation was steady for alcoholic beverages, tobacco products & recreational cannabis (at 0.7%) while cost of clothing & footwear fell less (-4% vs -4.1%). In contrast, cost of transport dropped (-0.1% vs 0.1%); and prices of recreation, education & reading declined at a faster pace (-1.3% vs -1.2%). On a monthly basis, consumer prices went up 0.4 percent, rebounding from a 0.1 percent fall in the prior month and above forecasts of a 0.2 percent gain.
2020-11-18
Canada Inflation Rate Rises More than Expected
The annual inflation rate in Canada rose to 0.5 percent in September 2020 from 0.1 percent in the previous month and above market expectations of 0.4 percent. Still, inflation remains well below 2.2 percent in February, before the coronavirus pandemic. Cost of transport rebounded (0.1% vs -1.3% in August), and prices increased further for shelter (1.7 % vs 1.5%); health & personal care (1.6% vs 1.4%); and alcoholic beverages, tobacco products & recreational cannabis (0.7% vs 0.4%). In addition, cost of recreation, education & reading fell less (-1.2% vs -3.1%). On the other hand, prices eased for food (1.6% vs 1.8%); and household operations, furnishings and equipment (0.3% vs 0.4%). Also, cost of clothing & footwear dropped at a faster pace (-4.1% vs -1.3%), as demand for back-to-school clothing was impacted by factors related to COVID-19. On a monthly basis, consumer prices declined 0.1 percent, the same as in the prior month and matching forecasts.
2020-10-21
Canada Inflation Rate Steady at 0.1% in August
The annual inflation rate in Canada was at 0.1 percent in August 2020, the same as in the previous month and below market expectations of a 0.4 percent increase. Inflation was steady for shelter (at 1.5%); while cost of health & personal care advanced further (1.4% vs 0.6% in July) due to higher prices of haircuts and hairdressing as costs related to safety measures to prevent the spread of the pandemic were passed along to consumers. In addition, cost of recreation, education & reading fell less (-3.1% vs -4%). On the other hand, prices slowed for food (1.8% vs 2.2%); household operations, furnishings and equipment (0.4% vs 0.6%); and alcoholic beverages, tobacco products & recreational cannabis (0.4% vs 0.6%). Also, cost of transport declined at a faster pace (-1.3% vs -1%), of which air transport (-16% vs -8.6%). On a monthly basis, consumer prices went down 0.1 percent, compared with forecasts of a 0.1 percent gain.
2020-09-16
Canada July Inflation Rate Below Forecasts
The annual inflation rate in Canada fell to 0.1 percent in July 2020 from an over nine-year high of 0.7 percent in June and compared with market expectations of a 0.5 percent gain. Prices slowed for food (2.2% vs 2.7% in June), namely meat (4.8% vs 8.1%); and shelter (1.5% vs 1.7%). Also, cost of transport dropped (-1% vs 0.1%), as air transportation prices (-8.6%) fell for the first time since December 2015 as airlines were offering various incentives such as reduced fees, discounts and promotions to encourage a return to travel following restrictions due to the pandemic. Also, cost of recreation, education & reading fell further (-4% vs -1.4%). Meanwhile, prices advanced at a faster pace for health & personal care (0.6% vs 0.5%) and inflation remain steady for alcoholic beverages, tobacco products & recreational cannabis (at 0.6%). On a monthly basis, consumer prices went down 0.1 percent, after rising 0.8 percent in the prior month and below forecasts of a 0.4 percent gain.
2020-08-19

Canada Inflation Rate
In Canada, the most important categories in the CPI basket are Shelter (27.5 percent of the total weight) and Transportation (19.3 percent). Food accounts for 16.1 percent; Household Operations, Furnishings and Equipment for 11.8 percent; Recreation, Education and Reading for 11.8 percent; Clothing and Footwear for 5.7 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for the remaining 3 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2009.